Business Profile

Top 5 Key Reasons to Invest in Tabaco City

ACCESSIBILITY AND LOCATION ADVANTAGE

Highly accessible by air, land and sea, Tabaco City is traversed by two national roads: the coastal Legazpi-Tabaco-Tiwi road that connects Albay to Camarines Sur via Sangay and the western Tabaco-Ligao road that connects with the Manila South Road via Naga City. Tabaco is a mere 30 kilometers from the Legazpi Domestic Airport and the transport of goods and people along the well-paved roads takes only half an hour. The city has a well-developed public infrastructure and telecommunications network that is continuously improved to cater to the growing needs of the economy. Indeed, Tabaco is an attractive location for investments in agriculture, fishery, manufacturing, real estate development and tourism.

MARKET ADVANTAGE

The level of Tabaco City’s economic activity and its educated workforce makes it a viable and attractive destination. The City is host to 30 private and 40 public educational institutions which is a natural magnet for different types of services and activities and produces a continuous supply of knowledge-based workers and professionals. The Bicol University Tabaco Campus which specializes in the health sciences, education and fisheries, has contributed to the steady growth of professionals in these disciplines.
The City likewise has a vibrant healthcare sector with five private hospitals, 21 private medical and dental clinics and the province-run District Hospital. Tabaco’s central business district has 13 national rural banks, a booming public market complex, two shopping malls, and close to 2,000 business establishments. All of these make Tabaco City a dynamic market for many business opportunities.

ECONOMIC AND SOCIAL ADVANTAGE

Tabaco City is the ideal place for living (settlement and recreation) and making a living (business and production). Cost of living in the area is relatively inexpensive. There is an abundance of fresh agricultural and marine products that are locally grown and readily available for consumers. Transportation around the City using the ever-dependable “padyak” or pedi-cab is economical and environment-friendly. The City’s crime rate is a low 0.3%, making the peace and order situation one of the best in the Region. Tabaco became a city almost ten years ago and yet business and other taxes have not increased since 1998. Cost of doing business is relatively cheaper compared to the other cities because of the deliberate decision of the local government to maximize the investor-friendly stance of the City. The one-stop business assistance office will be ready to serve clients by January 2011.

RESOURCE ADVANTAGE

Tabaco is known for its professional, highly-skilled and cost-effective labor force. The City’s human resource is a healthy mix of skilled artisans – abaca handicraft makers, wood carvers and furniture makers, and blacksmiths (makers of the famous “tabak and gunting” or handmade metal cutlery only found in Tabaco); technical skilled workers – welders and ship builders, small engine and computer hardware technicians and construction workers; and professionals in the medical and Healthcare, law, business, information technology and engineering professionals. Aside from its human resources, Tabaco has a lot of natural advantages. San Miguel Island is home to the multi-awarded Marine and Fishery Reserve and Sanctuary and has large tracts of fertile land for producing high value crops like camote or sweet potato and for animal grazing. The upland barangays on the slopes of the Mayon Volcano are established vegetable baskets producing “Baguio” vegetables or produce usually associated with places
with colder climates. Streams at the foothills of the volcano are rich sources of raw materials for construction. Fresh spring water is abundant in the mountainous areas of the city and has been touted as the best-tasting in the Bicol region.

PROFESSIONAL AND PROACTIVE GOVERNANCE ADVANTAGE

Political stability and development-oriented City leadership are essential in encouraging economic investments while ensuring social equity. The local government’s developmental strategies are anchored on the localization of the Millennium
Development Goals and the principles of good governance. The city government of Tabaco is serious in continuing its role as an enabler that allows business to do what it does best without unnecessary government intervention. Tabaco City welcomes wholesome and family-oriented business investments and value-laden economic partners to ensure growth with equity and meaningful development.